Erin and Deidre, Two Residents in Ithaca, New York, Are

question 236

Multiple Choice

Erin and Deidre, two residents in Ithaca, New York, are planning a trip to Boston.Erin, the sales manager for a large retailer, has to attend a business meeting.Deidre, a college student on vacation, is planning a leisurely trip to visit friends and relatives.Whose demand curve for air travel is likely to be more elastic?

• A)Erin
• B)Deidre
• C)There is no difference in their price elasticities of demand.
• D)The elasticity of the demand curves for Erin and Deidre cannot be determined without more information.

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Definitions:

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